BRAY, Ireland, December 20, 2011 /PRNewswire/ --
Osteologix Holdings, PLC ("Osteologix" or the "Company") declared a dividend of Euro 0.06 per sharepayable to shareholders of record on December 19, 2011. The payment date will be February 15, 2012. The payment date is being delayed to allow time for certain Irish Dividend WithholdingTax ("DWT") exemption forms to be returned to the Company by shareholders prior to dividend payment.
Shareholders who are not Irish residents may be entitled to an exemption from DWT. Those shareholders should complete a DWT exemption form, available on the Company's website, and return it to the Company. Shareholders who are entitled to an exemption but who do not return the relevant forms prior to the payment date will have DWT deducted from their dividend, however, they may subsequently apply to the Irish Revenue authorities for a refund of DWT.
In July, 2010 Osteologix granted the Servier Research Group an exclusive royalty bearing license to develop and commercialize strontium salt products covered by Osteologix's patent rights to treat post-menopausal osteoporosis, other bone and joint disorders and dental indications worldwide, except in the U.S.Assuming continued milestone payments, and the anticipated royalties from the Company's license agreement with the Servier Research Group, Osteologix looks forward to the potential to continue operating on a positive cash flow basis with the possibility for annual dividend payments.
The World Health Organization defines osteoporosis as a progressive skeletal disease characterized by low bone mass and micro-architectural deterioration of bone tissue with a consequential increase in bone fragility and susceptibility to fracture. There is increased risk of fracture particularly of spine, hip, pelvis and forearm. It is predominantly a disease of post-menopausal women and risk of fracture increases with age.
|SOURCE Osteologix Holdings PLC|
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